Apartments took the lion's share of real estate transactions in Nicosia in the 2nd quarter of the year, with plot sales demonstrating what's to come for housing in the future, according to figures from Ask Wire.
According to an analysis by Ask Wire, during the second quarter of the year, a total of 1,267 properties were sold, pertaining to the four main categories, (houses, apartments, plots and fields) worth €205 million.
During the during this period, 553 apartments, 184 houses, 312 fields and 218 plots were sold in the city and in the province of Nicosia. The value of the apartments sold reached €99.7 million, the houses €46.5 million, the fields €20.2 million and the plots €38.6 million.
According to the analysis, Nicosia gathers 29.5% of the volume of apartment sales in Cyprus. An important finding is that the greatest interest of buyers in Nicosia is focused on apartments worth €100,000 – €200,000 as almost six out of ten apartments were sold at these prices.
It is noted that four apartments worth more than that were sold in the capital of €1 million
As far as houses are concerned, more than half of the sales in the Nicosia district (99 out of 184) were for values of €100,000 – €300,000. Two houses were sold at prices above €1 million.
The purchase of houses in the Nicosia district in the 2nd quarter of the year corresponded to 18.3% of the total volume of sales all over Cyprus and to 14.4% of the value.
Plots and fields first
According to Ask Wire, the province of Nicosia also ranks first in Cyprus in the volume of land sales, as it gathers a little more than 1/3 of the transactions of the 2 quarter.
Six of the ten plots sold were worth €50,0000 – €200,000, while almost half of the plots sold (105) were 400 – 600 square meters in size.
In this context, Pavlos Loizou, CEO of Ask Wire, commented by analyzing the data of the Nicosia province, useful conclusions are drawn about the trends that dominate the four main real estate categories. houses and apartments show what is to come in the future in terms of building real estate for housing in the city, in the suburbs and more widely in the Nicosia district”, he added.
Finally, the Nicosia district ranks first in Cyprus also in the volume of land sales as gathers a little more than 1/3 of the 2nd quarter transactions. Six of the ten plots sold were worth €50,0000 – €200,000, while almost half of the plots sold (105) were 400 – 600 square meters, it is reported.
